Pro Medicus (PRO) reported first-half 2026 revenue of $148.3 million, a 12% increase from $132.4 million in the same period of 2025, and adjusted net income of $19.8 million, up 24% year-over-year. The company attributed the gains to higher procedural volumes and pricing optimization. Management provided Q4 2026 guidance of $140–$150 million in revenue and $25–$30 million in adjusted net income, reflecting continued demand in interventional cardiology procedures.

Carrefour (CAR) agreed to sell its Romania operations to Paval Holding for an enterprise value of EUR823 million, effective February 15, 2026. The transaction, valued at approximately 33% of Carrefour's Romania revenue, reflects a strategic剥离 to focus on core markets. Closing is contingent on regulatory approvals and securing a final tax treatment agreement. The deal is expected to be completed by the end of February.

Sanofi (SAN) announced that Paul Hudson will step down as CEO, effective February 28, 2026, following a strategic leadership review. The company has named Belén Garijo, currently president of global business development, as the interim CEO until the board's formal appointment. Garijo will assume the role of CEO upon completion of the board's formal election process, which is expected to be finalized by March 2026. The transition is designed to ensure continuity during a critical phase of the company's portfolio and global operations.

Lenovo (LVS) warned of mounting pressure on PC shipments as a worsening memory-chip shortage, driven by AI demand, squeezes margins and threatens production targets. The company has raised prices to offset surging memory costs and is accelerating its push into AI inference.

Q3 revenue rose 18% to $22.2B, outpacing expectations of $20.6B, but net profit fell 21% to $546M, including a $285M restructuring charge. The $200M cost-cutting plan over three years aims to sharpen focus on AI inference, CEO Yang Yuanqing said.

McDonald's reports Q4 revenue and profit exceeding expectations amid soft global consumption, driven by a value-focused strategy that attracted price-sensitive consumers. For the quarter ended December 31, 2025, consolidated revenue reached $70.1B, versus $68.3B analyst forecast; same-store sales rose 6.8%, the fastest two-year gain. The U.S. market led with a 6.8% increase, whileComparable sales in international operations grew 5.2% and licensing 4.5% in part due to strong performance in Japan.

Full-year results reflect robust fundamentals: revenue $268.85B, operating profit up 6% to $123.93B, and operating cash flow exceeding $105B. The company's loyalty platform accounted for over 25% of total sales in 2025, with 210 million active members for 90 days. Despite a volatile aftermarket reaction, McDonald's shares have gained about 6% this year, outperforming the S&P 500.

AppLovin (APP.US) reported results for Q4 and full-year 2025 on February 11, 2026, showing revenue and margins that surpassed expectations despite a sharp post-market decline on fears of AI disruption and competition from larger platforms.

Key metrics: Q4 revenue of $16.6B, up 66% year-over-year, beating analyst expectations; EPS of $3.24, up 87%; adjusted EBITDA of $14B, a 82% YoY increase, and a profit margin of 84%. Free cash flow for the year reached $39.5B, up 91%.

CEO Adam Foroughi said market sentiment outpaced business fundamentals, with AI expected to drive a “content explosion” making discovery a scarce resource and strengthening the value of platforms that match the right content to users. The company’s MAX auction-based model expands market size as higher-quality advertisers win, allowing AppLovin to capture fees on lower-value impressions.

AppLovin is expanding into e-commerce with a self-service platform, with over 100 clients试点ing generative AI ad creative tools. A Hebrew kitchenware client boosted revenue from $400K to $16M, with LTV:CAC breakeven within 30 days.

Guidance for Q1 2026: revenue $17.45B–$17.75B, up 5–7% year-over-year, and EBITDA margin to remain at 84%. The company has repurchased about $25.8B in 2025 and maintains $33B of authorization remaining.

French electrical and digital building infrastructure company Legrand (LGE.FR) raised its medium-term profitability outlook, citing strong data center demand. The company now projects average adjusted operating margins above 20% for the five-year period ending 2030, up from around 20% in 2024.

Data centers accounted for 26% of Legrand’s 2025 revenues and could reach 40%, with AI transformation driving expansion. Revenues rose 9.6% to €9.48 billion ($11.26 billion), and adjusted operating profit grew 10.5% to €1.96 billion. For 2026, the company expects sales growth of 10%–15% and adjusted operating margins of 20.5%–21%, with a proposed dividend of €2.38 per share on 2025 results.

Legrand acquired Green4T (Brazil) and Kratos Industries (U.S.) this year and completed seven new-energy and digital acquisitions in 2025, adding €500 million in incremental revenues and maintaining strong margins. CEO Benoit Coquart said the firm regularly evaluates nearly 400 companies, focusing on energy and digital transitions, and anticipates continued double-digit growth in the global data center market through the end of the decade, with Europe expected to follow U.S. momentum.

February 12, 2026 — One year after DeepSeek disrupted the global AI landscape with a low-cost model, domestic rivals are ramping up launches during the Lunar New Year period, with major announcements expected between Feb. 15 and Feb. 24.

Zhipu AI released an enhanced model with stronger coding and long-context capabilities. ByteDance unveiled Seedance 2.0, touting rapid cinematic video generation, and is rolling out Doubao 2.0, China’s most popular AI app with 155.2 million weekly active users as of QuestMobile. DeepSeek is preparing V4, while Alibaba is expected to release Qwen 3.5 with improved math and coding.

Low-cost, open-source foundation models now dominate, with RAND and Omdia reporting Chinese systems operate 1/4–1/6 the cost of U.S. equivalents. Chinese firms increasingly open-source and invest in researcher talent to integrate AI into consumer services, reflecting monetization pressures, while DeepSeek remains research-focused under its fund parent.

Google announced the integration of AI shopping within Google Search and Gemini, enabling users to purchase products directly from search results and chatbots. The company is rolling out new ad formats and "Direct Offers" that let brands present discounts and products in the AI Search experience. Alphabet (GOOGL-US) is collaborating with Shopify (SHOP-US), Walmart (WMT-US), and Target (TGT-US) to build an end-to-end AI commerce system covering checkout and identity verification.

Example: A user asking Gemini for a bread maker can now see and buy the product without leaving the app. The move expands变现 beyond subscriptions, with Google’s $650 billion+ AI investment driving ad and commerce innovation. Regulatory attention is rising, with Sen. Elizabeth Warren (D-MA) concerned about consumer privacy and price incentives; Google states it prohibits showing higher prices on its platform than on merchants' own sites.

February 12, 2026 — One year after DeepSeek disrupted the global AI landscape with a low-cost model, domestic rivals are ramping up launches during the Lunar New Year period, with major announcements expected between Feb. 15 and Feb. 24.

Zhipu AI released an enhanced model with stronger coding and long-context capabilities. ByteDance unveiled Seedance 2.0, touting rapid cinematic video generation, and is rolling out Doubao 2.0, China’s most popular AI app with 155.2 million weekly active users as of QuestMobile. DeepSeek is preparing V4, while Alibaba is expected to release Qwen 3.5 with improved math and coding.

Low-cost, open-source foundation models now dominate, with RAND and Omdia reporting Chinese systems operate 1/4–1/6 the cost of U.S. equivalents. Chinese firms increasingly open-source and invest in researcher talent to integrate AI into consumer services, reflecting monetization pressures, while DeepSeek remains research-focused under its fund parent.

Isuzu Motors (7267.T) reported a 9-month profit decline of 12.3% year-over-year to ¥2.12 billion (USD 274 million) in the fiscal year ending March 31, 2026, as revenue rose 4.8% to ¥29.5 billion (USD 3.6 billion). The company attributed the narrower margin to softer demand in Asia-Pacific and lower pricing in North America. Management maintained its full-year 2026 guidance of ¥30.5 billion in revenue and a profit between ¥1.9 billion and ¥2.1 billion, citing improved fuel efficiency and cost controls in key markets.

AmerMovil (AMX) reported fourth-quarter net income of $1.05 billion, or 35 cents per share, with revenue of $13.38 billion. For the year, the company recorded profit of $4.32 billion, or $1.44 per share, on revenue of $49.22 billion. AmerMovil shares gained 14% this year and 60% over the past 12 months.

GM (GM) announced a 20% increase in its 2026 dividend, reinforcing its commitment to returning capital to shareholders. The stock has more than doubled in two years, outperforming Ford (F) and Stellantis (STLA) amid broader auto-sector headwinds. For 2026, GM expects adjusted pre-tax earnings of $13B–$15B, up $2.3B from 2025; NA adjusted pre-tax margins to return to 8%–10%; and free cash flows of $9B–$11B. Since November 2023, the company has repurchased $23B in shares, reducing outstanding shares by 35%, and added a $6B buyback program. Management raised U.S. production capacity to mitigate tariff exposure and boost per-share earnings. The dividend yield is now about 0.90%, and sell-side mean target price is $91.24, up 13% from current levels. Analysts upgraded the stock in December 2025, with Piper Sandler and Morgan Stanley increasing price targets. With a forward P/E of 6.73x, the company’s disciplined capital allocation and strong free cash flow position it well for 2026.

Lenovo Group (0992.HK) reported Q3 net profit down 13.2% to HK$1.89 billion, while revenue rose 2.1% to HK$36.4 billion, on February 12, 2026. The decline in profit followed a strategic pivot toward higher-margin services and AI, which contributed to lower hardware margins. Share price fell 2.4% in Hong Kong trading after the report. Key drivers included stronger sales in North America and a 14.7% rise in server shipments.

China is channeling tens of thousands of new and zero-mileage used vehicles to Russia through gray-market networks, sharply countering Western automakers’ bans and sales restrictions following the 2022 Ukraine invasion. Registration data and dealer interviews show Chinese intermediaries and informal dealer channels enable Russian importers to acquire Western and Asian brands, including via reclassification of new cars as used to bypass approvals.

Autostat data indicates China-made or China-passed foreign vehicles now account for nearly half of all restricted-brand registrations in Russia in 2025, with over 700,000 such vehicles sold since 2022. German luxury SUVs, including the Mercedes G-class, GLC 300, and BMW X1, are among the most sought-after. Automakers such as Mercedes, BMW, Volkswagen, Toyota, and Mazda prohibit sales to Russia and report violations are “time-consuming and complex” to trace, yet the flow continues through third-party middlemen.

Auto sales in Russia have fallen from over 1 million in 2021 to about 120,000 this year, while Chinese-made German and Japanese cars are rising. China and Russia both maintain they oppose unilateral sanctions and consider them illegal.

[Para 1: The Lead]

Pershing Square’s managing partner Bill Ackman disclosed at its annual investor conference on February 11, 2026, a concentrated position of about $200 million in Meta (META-US), roughly 10% of the fund’s capital. The move reflects confidence in Meta’s leading position in the AI race.

[Para 2: Supporting details & Context]

The fund began accumulating shares in late November 2025, amid sector concerns over Meta’s heavy AI capital spending that had driven its stock down about 13% in six months. At an average cost of about $625 per share, Ackman’s team executed a “buy at a discount” as the market entered.

As of February 11, 2026, Meta’s stock closed at $669, delivering about a 14% unrealized gain on the position. The fund’s research highlights Meta’s business model as a clear beneficiary of AI integration, with improved recommendation accuracy and more efficient ad targeting.

Ackman continues the fund’s concentrated approach, holding just 13 stocks at year-end beyond new META-US exposure, including Alphabet and Amazon. The disclosure saw a steadier market reaction than past entries, but the timing and size of the trade underscore Ackman’s assessment of long-term value in Meta’s transition into AI-driven growth.

Pilgrim's Pride Corporation (PPL) reported a net loss of $19.3 million for the fourth quarter ended December 31, 2025, as operating income fell 26% year-over-year to $10.8 million. The decline followed a 12.5% drop in revenue to $281.7 million, driven by lower demand and higher input costs. The company attributed the results to supply chain disruptions and inflationary pressures. PPL's stock closed at $21.43 on February 11, 2026, down 3.2% for the session.

NorthWestern Energy Group Inc. (NASDAQ: NWG) reported a full-year 2025 net loss of $148.3 million, a 12.7% increase from the $131.9 million loss in 2024, according to its February 12 filing. The decline reflects lower natural gas prices and reduced production from its stripper wells in the Williston Basin.

Second-quarter 2025 results, released concurrently, showed a net loss of $35.4 million versus a loss of $32.1 million in the same period of 2024, with adjusted EBITDA down to -$14.8 million from -$11.2 million. The company attributed the results to continued price weakness and lower realized prices for natural gas and crude oil.

Singtel Group (018) released results showing net profit for the three months ended December 31, 2025, rose 2.1% to SGD 1.84 billion, outpacing analyst expectations of SGD 1.78 billion. Revenue climbed 4.2% year-over-year to SGD 35.8 billion. However, EBITDA for the quarter edged down 0.3% to SGD 7.42 billion, pressured by higher interest costs and a one-time tax restructuring charge. The company attributed the slight decline to macroeconomic headwinds and lower data center demand.

Asia shares mostly gained on Thursday as Tokyo’s Nikkei 225 reached a new high of 57,748.81 and South Korea’s Kospi surpassed 5,500 at 5,485.71. Japan’s gains followed PM Sanae Takaichi’s election victory and expectations of supportive policies. Hong Kong’s Hang Seng fell 0.9% to 27,024.06, while the Shanghai Composite rose 0.1% to 4,137.06.

U.S. futures edged higher after the January non-farm payrolls report showed 130,000 new jobs, beating forecasts, and signaling a low probability of further Fed rate cuts. The S&P 500 closed 0.34 points lower at 6,941.47; the Dow Jones Industrial Average fell 0.1% to 50,121.40; and the Nasdaq Composite dropped 0.2% to 23,066.47.

Meanwhile, Bitcoin retreated to about half its October peak, weighing on Robinhood’s shares, which fell 8.8%. Exxon Mobil gained 2.6%, and Smurfit Westrock surged 9.9%. U.S. crude oil rose 40 cents to $65.03 per barrel, Brent crude 38 cents to $69.78 per barrel. Gold and silver prices declined; gold was at $5,079.30 per ounce and silver at $83.42 per ounce.